Mid-week market update: Since January, I have been saying that the stock market is extended and could pull back at any time. The latest conditions shows that the S&P 500 is consolidating sideways after pulling back from above its upper Bollinger Band. The stochastic has recycled from overbought to neutral, which is a tactical sell signal.
But the correction scenario could be a replay of the story of Lucy, Charlie Brown, and the football.
The full post can be found here.
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